04 March 2011 10:13 [Source: ICIS news]
SINGAPORE (ICIS)--Indian producers have hiked prices of polyethylene (PE) and polypropylene (PP) by up to Indian rupee (Rs) 3,000/tonne ($66.7/tonne) on the back of higher import prices and manufacturing costs, market sources said on Friday.
Prices of all PP grades were hiked by Rs3,000/tonne, with prices of raffia grade PP now at Rs88,500/tonne DEL (delivered), injection grade PP at Rs88,300/tonne DEL and film grade PP at Rs89,500/tonne DEL.
Prices of all PE grades, meanwhile, were hiked by Rs1,500/tonne.
Prices of high density polyethylene (HDPE) and low density polyethylene (LDPE) were hiked to Rs77,000/tonne DEL and Rs96,700/tonne DEL respectively, while linear low density polyethylene (LLDPE) prices were increased to Rs78,500/tonne DEL.
Prices of imports continued to hover above domestic price levels despite the price hikes.
HDPE film imports rose by $20/tonne to $1,400-1,430/tonne CFR Mumbai from a week earlier while raffia grade PP was assessed $10-30/tonne higher at $1,600-1,640/tonne CFR Mumbai.
"The price disparity between domestic goods and imports are about $70-100/tonne for polymers," a key trader said.
Nurluqman Suratman contributed to this story
($1 = Rs45.00)
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